DELHI: The Indian Real Estate market has continued to record impressive growth in the last couple of years. With several projects being launched on an almost daily basis, 2013-14 is expected to witness substantial supply of housing across the country. Hence, the overall housing shortage in India is likely to decline to around 75.5 million units in the period 2013-14.

“We expect housing shortage to decrease primarily due to the government’s thrust on improving rural housing by providing houses to the homeless under various development schemes and by enabling slum redevelopment programmes in urban areas under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM),” stated a CRISIL source.

However, housing shortage in urban areas is expected to continue to rise owing to migration towards urban areas and the increasing trend of nuclear families.

The game changer in terms of policies and regulations is also expected to give further impetus to this segment, as most of the bills that have been pending for the last few years are expected to be passed in Parliament in the coming quarters of 2013.

This is especially true with regards to the passage of two important bills: the Real Estate Regulation Bill and the Land Acquisition Bill, which are both expected to boost the sentiment of all the stakeholders.

With the lowering of interest rates developers as well as consumers both are expected to benefit further.

“The silver lining for all those who missed the boat, both developers and consumers, is that 2013 is a year to start a fresh innings. In a country that has an acute housing shortage there will always be takers provided the offerings are enticing,” predicts Rohan D’Silva, the national director of Knight Frank India.

With all these measures, going forward, industry observers expect a strong underlying demand to continue to aid an improvement in absorption levels in major cities.

Industry analysts however have a word of caution for the stakeholders. “Despite strong fundamentals backing the Indian residential real estate sector, we need to understand that the segment is also influenced by global economic cycles. Hence, a cautionary approach when it comes to investment in this sector would be necessary,’’ states Ranjitha Wadhwa, Property Consultant and Investment Adviser, Shingroor Real Estate Consultants, India.

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PUDUCHERRY: Rapid unplanned development and high real estate prices, triggered by a boom in migrant population, has left the middle class in this former French colony chasing an elusive dream of finding affordable homes.

MUMBAI: The long stretch from Uran to Ulwe in Navi Mumbai, covers many areas which have witnessed spurts of real estate development but the one area which has emerged as a clear favourite of developers and investors, is Ulwe.

PUNE: If you are looking for an affordable abode in Pune, the stretch from Ravet to Tathawade could well be your choice of destination. Starting from Ravet through Ravet Village Road, Kalewadi Main Road and finally Tathawade, one can find new residential projects by Lodha Group, Bhojwani Homes and Goel Ganga Developers, coming up in another two to three years.

DELHI: Like the Cyber City Gurgaon, the twin cities of Noida-Greater Noida are also facing huge water shortage after the National Green Tribunal banned extraction of groundwater for construction purposes.

MUMBAI: Once known as a temple city having religious importance, Nashik has grown by leaps and bounds to become a bustling mini-metro. In the last few years, its skyline has changed with high-rise buildings dotting the landscape.

AHMEDABAD: Infrastructure development can have a positive effect on property prices. For instance, residential property prices at Chandkheda, on the outskirts of Ahmedabad, are already on the upswing because the Bus Rapid Transit System (BRTS) route is expected to extend up to this location. Improved intra-city mobility will give an additional fillip to residential property rates.

DELHI: A slowdown in the real estate sector can spell opportunity for the prepared. Delhi-based publishers, Umraopati Ray, 30, and his wife PriyankaSaxena, also 30, own an apartment at PaschimVihar. As the slowdown in the National Capital Region (NCR) intensified, the young couple went hunting for good deals. Recently, their efforts were rewarded when they managed to buy a flat at VasantVihar at a price 15% lower than the peak rate witnessed in the area in the past.

DELHI: NCR will soon witness its own symbolic building, as CHD Developers Ltd., one of northern India’s most renowned developers are set to launch its headquarters ‘CHD Sky One’ in Dwarka Expressway. Poised to be an iconic building of India, Sky One will change the skyline of Dwarka Expressway with its stunning international design, setting a benchmark like no other.